Our proposal would also enable Nexstar and Media General shareholders to participate in the near- and long-term upside of a pure-play broadcasting company with expanded audience reach, a more diversified portfolio, and a significantly stronger financial profile, including substantial free cash flow per share, led by a proven broadcast and digital media management team.

These are well-run, profitable properties in very rural service areas that expand our presence in the Upper Midwest and grow our free cash flow per share," Jeff Gardner, president and CEO of Windstream, said in a news release.

The announcement comes on the heels of Algoma being named in Canadian Business magazine's Top 500 publicly traded companies issue for 2005 as having the fifth-best earnings per share growth, the sixth-best free cash flow per share and the sixth highest return on equity.

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